Adani-Gadot Group Finalizes Haifa Port Refinancing Deal

The Adani-Gadot Group announces the completion of the financial closure for the refinancing of the Haifa Port acquisition, amounting to approximately 2.8 billion shekels. This move strengthens the stability and development of a central strategic asset crucial to the State of Israel.

The Adani Gadot Group stated that "the financial closure represents a significant milestone since the acquisition of the port, and is a clear expression of confidence by local and international financiers in the group's capabilities, its financial resilience, and its long-term development strategy. The impressive financing volume and deal structure make this one of the most prominent financing processes carried out in Israel in recent years."

The financial closure process was completed after months of intensive work, during which local and international financing sources were integrated. About 30% of the financing volume - approximately 830 million shekels - was raised in the local market led by Mizrahi-Tefahot Bank, while the remainder, about 70%, was raised through leading foreign financial bodies. The success of the fundraising reflects the market's confidence in the Adani-Gadot partnership and its ability to execute complex moves in significant volumes.

The original acquisition of Haifa Port in January 2023 was funded through the equity of Indian Adani and Gadot (controlled by Tana Fund and LBH VALUE), as well as through a short bridging loan of 1.1 billion shekels from a local consortium that included Mizrahi-Tefahot Bank, the International Bank, Meitav, and Ayalon, in addition to an owner's loan from Adani amounting to 1.7 billion shekels. Now, with the end of the bridging period, the permanent financing path has been successfully completed.

The Adani Gadot Group further stated that "this is one of the most complex and innovative financing deals carried out in Israel in recent years, both in terms of its volume and its multi-layered structure. Despite geo-political challenges, a window of opportunities for rapid growth in the ports sector has opened. Market moves, such as Noy Fund's investment in the Gulf Port, reinforce expectations for significant growth in regional maritime traffic."

The Adani Gadot Group: "The move forms an important basis for the realization of the group's long-term development plans at the port, one of Israel's central national assets, and will enable the Adani-Gadot Group to continue to lead the operational, economic, and real estate development of Haifa Port, turning it into a regional growth engine that generates value for the Israeli economy."

Ofer Linchevski, CEO of the Gadot Group, said: "We are proud of the financing closure for the acquisition of Haifa Port, which is a strategic asset for the State of Israel, and we are happy to collaborate once again with Mizrahi Bank during this challenging period. On this occasion, I would like to thank our partner Adani for expressing confidence in the Israeli economy in general and in Haifa Port in particular."

Itai Stolovy, Deputy CEO of the Gadot Group, said: "This is a complex deal, large in scope and the first of its kind to be executed in this format by the Gadot Group. It was conducted over many months in close cooperation with Mizrahi Bank and our partners at Adani and was carried out under particularly challenging market conditions. We managed to build a creative financing solution that balances immediate needs with long-term growth, and I am proud of our team for the precise and professional execution, setting a high bar for Gadot's continued activity in the local and international market."